BlackRock $BLK Stock: Frank Rimerman Advisors LLC Increases Holdings

Key Points

• Frank Rimerman Advisors LLC increased its BlackRock stake by 1,786.8% in the third quarter, bringing its holdings to 10,868 shares valued at approximately $11.5 million. Institutional investors and hedge funds collectively own 80.69% of BLK.
• BlackRock reported stronger-than-expected third-quarter results, with adjusted EPS of $15.93 and revenue of $7.75 billion, up 19.1% year over year. The firm also attracted roughly $205 billion in net new client assets, raising assets under management to about $15.5 trillion.
• Analysts maintain a broadly positive view, with 14 Buy ratings, one Strong Buy and two Hold ratings, producing a consensus “Moderate Buy” rating and an average price target of $1,312.06. Ethereum ETF outflows and intense competition in low-cost Nasdaq-100 ETFs remain potential headwinds.

Frank Rimerman Advisors LLC lifted its stake in shares of BlackRock (NYSE:BLK - Free Report) by 1,786.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,868 shares of the asset manager's stock after acquiring an additional 10,292 shares during the quarter. BlackRock accounts for 0.6% of Frank Rimerman Advisors LLC's portfolio, making the stock its 28th largest holding. Frank Rimerman Advisors LLC's holdings in BlackRock were worth $11,501,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Advisors Capital Management LLC acquired a new position in BlackRock in the 2nd quarter valued at approximately $33,847,000. Varma Mutual Pension Insurance Co acquired a new stake in shares of BlackRock during the 2nd quarter valued at $28,185,000. Haverford Trust Co acquired a new stake in shares of BlackRock during the 2nd quarter valued at $264,500,000. Liberty One Investment Management LLC grew its holdings in shares of BlackRock by 30.7% during the 1st quarter. Liberty One Investment Management LLC now owns 4,861 shares of the asset manager's stock valued at $4,675,000 after acquiring an additional 1,141 shares in the last quarter. Finally, Basswood Capital Management L.L.C. purchased a new position in shares of BlackRock during the 2nd quarter valued at $23,122,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

• Positive Sentiment: Strong Q3 results support the rally. BlackRock reported adjusted earnings of $15.93 per share, exceeding the $14.32 consensus estimate, while revenue of $7.75 billion also topped expectations and increased 19.1% year over year. Improved operating income and margins helped ease concerns about profitability. BlackRock Stock Jumps as Q3 Earnings Power Margin Recovery
• Positive Sentiment: Record inflows point to continued organic growth. BlackRock attracted approximately $205 billion in net new client assets during the quarter, lifting assets under management to roughly $15.5 trillion. Broad ETF demand, fixed income, private markets and technology fees are diversifying the company’s revenue base. How Record Inflows at BlackRock Have Changed Its Investment Story
• Positive Sentiment: Analysts raised their expectations. JPMorgan increased its price target to $1,449 and maintained an Overweight rating, while Keefe, Bruyette & Woods raised its target to $1,310 with an Outperform rating. Bank of America also reiterated a Buy rating and lifted its target to $1,313, citing strong earnings and ETF inflows. Analysts Boost Forecasts on BlackRock
• Positive Sentiment: AI infrastructure could create new fee opportunities. Management highlighted financing for data centers and compute infrastructure, along with growth in higher-fee products, as potential longer-term earnings drivers. CEO Larry Fink’s support for continued data-center construction reinforces BlackRock’s positioning in this investment theme. BlackRock Sees Large Opportunity in Developing Compute Market
• Neutral Sentiment: BlackRock disclosed portfolio changes involving stakes in Qiagen, Suzano, Caledonia Mining and Fagron. These transactions demonstrate ongoing investment activity but are not expected to materially affect BLK’s earnings.
• Negative Sentiment: Ethereum ETFs experienced another day of net redemptions, led by BlackRock’s ETHA. Persistent crypto-fund outflows could pressure short-term fee revenue, although the impact is limited relative to BlackRock’s broader platform. Ethereum ETFs See Outflows
• Negative Sentiment: BlackRock faces tougher competition in low-cost Nasdaq-100 ETFs from State Street and other providers, while early inflows remain limited and trading volumes trail the established QQQ product. QQQ vs. Cheaper Nasdaq-100 ETFs

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BLK shares. Zacks Research downgraded shares of BlackRock from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. UBS Group lifted their price objective on BlackRock from $1,277.00 to $1,300.00 and gave the company a "buy" rating in a research report on Thursday. Evercore restated an "outperform" rating and issued a $1,275.00 target price on shares of BlackRock in a research note on Friday, October 9th. The Goldman Sachs Group restated a "buy" rating and issued a $1,389.00 target price on shares of BlackRock in a research note on Thursday, July 16th. Finally, Bank of America upped their target price on BlackRock from $1,298.00 to $1,320.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,312.06.

BlackRock Price Performance

NYSE BLK opened at $1,133.07 on Friday. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $175.48 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.25 and a beta of 1.41. The company has a 50 day moving average price of $1,106.23 and a two-hundred day moving average price of $1,062.85. BlackRock has a 12-month low of $917.39 and a 12-month high of $1,187.17.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Wednesday, October 14th. The asset manager reported $15.93 EPS for the quarter, topping the consensus estimate of $14.32 by $1.61. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.42 billion. BlackRock had a net margin of 24.22% and a return on equity of 16.08%. BlackRock's quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.43 EPS. As a group, equities analysts predict that BlackRock will post 57.47 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were issued a $5.73 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.0%. BlackRock's dividend payout ratio is currently 52.11%.

BlackRock Profile

BlackRock, Inc is a global investment management and financial technology company headquartered in New York. Founded in 1988, the company provides investment, technology and advisory services to institutional and individual investors, governments, foundations and other clients worldwide.

BlackRock offers a broad range of investment products and strategies, including equity and fixed-income funds, index funds, exchange-traded funds through its iShares business, multi-asset portfolios, cash-management products and alternative investments.

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